Global Smart Display Market Size, Share, Opportunities, And Trends By Technology (LCD, LED) And By Geography - Forecasts From 2023 To 2028
- Published : May 2023
- Report Code : KSI061614656
- Pages : 120
The global smart display market was valued at US$4.743 billion in 2021 and is expected to witness robust growth over the forecast period.
Smart displays are electrical gadgets with built-in screens for displaying information and the ability to link to the internet or other gadgets. These devices often run an operating system like Android, iOS, or Windows and may also have additional capabilities like touch controllers, voice assistants, and cutting-edge graphics processing. The manufacture and selling of smart display products are two aspects of the constantly expanding global smart display market. Applications for smart displays include digital signage, home automation, entertainment, and a host of other things. The need for smart displays has also increased due to the development of technologies like artificial intelligence, virtual and augmented reality, and voice-activated assistants. In the upcoming years, the global smart display market is anticipated to expand quickly due to the rising demand for cutting-edge display technologies, the proliferation of smart home gadgets, and the continued development of novel technologies.
The global smart display market is driven by growing demand for smart technology, advanced audio and display assistants, and increased demand for digital signage.
The growing adoption of smart home technology is one of the major drivers of the global smart display market. Smart screens are a crucial component of home automation systems, which let people use voice commands or mobile apps to operate their home appliances, lighting, and security systems. In 2019, 32% of households had smart home equipment, up from 17% in 2015, according to a US Census Bureau survey. The market for smart displays is anticipated to increase due to this trend. Further, the global smart display market has also expanded due to the rising need for digital signage. Smart displays are frequently used in digital signage applications in retail stores, airports, and hospitals to show multimedia material, convey information, or market items.
The smart display market is expanding due to the rising popularity of speech-activated assistants in recent years. Smart displays frequently feature such assistants, like Apple Siri, Google Assistant, or Amazon Alexa, which let users communicate with the device via voice commands. The US Consumer Technology Association reported that sales of smart speakers in the US reached 146.9 million units in 2020, an increase of 7% from 2019. Voice-activated assistants are increasingly widespread and are frequently built into smart displays, which has benefitted the smart display market.
- In March 2021, Google unveiled the second-generation Nest Hub smart display. The Nest Hub 2 was introduced in India in January 2022, increasing the company's selection of connected home products. The Nest Hub 2 includes a 7-inch display and can provide greater sound than the first Nest Hub by adding 50% more bass. In addition, users can access various online entertainment providers, including Netflix, YouTube, and more. Also, users have access to Spotify, YouTube Music, and other well-known streaming services. With Google Assistant, users can control music and watch movies and TV shows. In addition, they can operate equipment like the air conditioner and lights hands-free using Google Assistant. Furthermore, it also allows users to connect several Nest speakers and displays for enhanced audio and video output.
- In February 2023, Lenovo unveiled the ThinkView Plus, a device primarily designed for video conferences. The model is expected to go on sale by mid-2023. The new FHD smart display integrates Microsoft Teams into its three-part video conferencing and monitor display. The ThinkView Plus, which has an IPS display, is an improvement over the 2020 ThinkSmart View. Four microphones and two upgradeable, detachable, 5W speakers are included with the Lenovo ThinkView Plus. The kit also comes with a whiteboard app and a passive stylus. Compared to the ThinkSmart View, the new smart display has additional capability and versatility.
North America is a significant market for smart displays due to the growing popularity of smart home technologies and the rising demand for sophisticated display and visualization capabilities in sectors like retail and healthcare. The largest market in the area is the United States. However, it also benefits from numerous significant players in the market for smart displays worldwide. Amazon, Google, and Facebook are some of the major companies in the North American smart display market. According to its annual report, Amazon supplied 6.6 million smart screens in the United States in Q1 2021, taking 44.9% of the market. The Asia-Pacific smart displays market is anticipated to have a significant growth rate during the projected period due to factors like the rising use of smart home technology, the rising popularity of e-commerce, and the proliferation of smart cities. The biggest markets in the area are China, Japan, and South Korea.
Global Smart Display Market Scope:
|Market Size Value in 2021||US$4.743 billion|
|Growth Rate||CAGR during the forecast period|
|Forecast Period||2023 – 2028|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Technology and Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||SAMSUNG, LG Electronics, Lenovo, NEC Corporation, Sony Electronics Inc., Panasonic Corporation, Amazon.com, Inc., Google LLC, Harman, Intel Corporation|
|Customization Scope||Free report customization with purchase|
- By Technology
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- South Africa
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Research Design
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL SMART DISPLAY MARKET BY TECHNOLOGY
6. GLOBAL SMART DISPLAY MARKET BY GEOGRAPHY
6.2. North America
6.3. South America
6.4.3. United Kingdom
6.5. Middle East and Africa
6.5.1. Saudi Arabia
6.5.3. South Africa
6.6. Asia Pacific
6.6.4. South Korea
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisition, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. COMPANY PROFILES
8.2. LG Electronics
8.4. NEC Corporation
8.5. Sony Electronics Inc.
8.6. Panasonic Corporation
8.7. Amazon.com, Inc.
8.8. Google LLC
8.10. Intel Corporation
Sony Electronics Inc.
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